APA increases interest in HDF to over 90 per cent
APA Group (ASX:APA) today announced it has now obtained a relevant interest in more than 90% of the securities in Hastings Diversified Utilities Fund (ASX:HDF).
As at 14 November 2012, APA has a relevant interest in 94.1% of all HDF securities.
In line with previous announcements, APA has now varied its offer by increasing the offer consideration by a further 8 cents cash per HDF security.
HDF securityholders who have accepted the offer do not need to do anything in order to receive the increased offer consideration. Payment will be made within seven business days.
APA will now proceed to compulsorily acquire the remaining HDF securities.
APA’s offer will remain open for acceptances until 7.00pm (Sydney time) on 13 December 2012.
Notice of variation
In accordance with section 650D of the Corporations Act, attached is a notice of variation which formally increases the offer consideration. A copy of the notice of variation has been lodged with ASIC and will be given to HDF. The notice will also be sent to each HDF securityholder.